Thursday, 18 November 2010

GE purchases 25,000 electric cars in a bid to boost the market.

In an attempt to “push the emerging technology and profit from its widespread rollout”, General Electric will invest in the fleet over the next five years. Manufacturer of electric charging stations, GE will convert at least half its 30,000 fleet to electric.

Beginning this month, GE hopes the purchase will lead to “wide-scale electric adoption and generate growth for its businesses.” Believing we are on the verge of an electric vehicle ‘boom’, GE will use the first 12,000 Chevrolet Volts as company cars for corporate customers.

GE Chief Executive and chairman Jeff Immelt said: “By electrifying our own fleet, we will accelerate the adoption curve, drive scale and move electric vehicles from anticipation to action.”

Predicting that the investment could lead to $500million in revenue over the next five years through sales of its electric-car recharger and other products, GE also said the purchase would not “reduce the number of Volts available to the public.”

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